- Bill Morgan questions Coinbase’s XRP trading suspension and calls for its relisting.
- He criticizes Coinbase’s inconsistency in trading practices with other assets targeted by the SEC.
- Morgan dismisses arguments on duties to shareholders and demands either temporary trading pauses or the resumption of XRP trading.
Digital assets enthusiast Bill Morgan has once again questioned Coinbase’s decision to halt the trading of XRP amid its lawsuit with the US Securities and Exchange Commission (SEC). Morgan quote tweeted Coinbase Chief Legal Officer Paul Grewal asking the latter to relist XRP.
While slamming Coinbase as “pathetically inconsistent,” Morgan tweeted:
Bill Morgan expressed his discontent with Coinbase‘s handling of the XRP trading suspension. Morgan noted that if no unlawful activity was committed by the cryptocurrency exchange, Coinbase should promptly relist XRP.
He pointed out the apparent contradiction in Coinbase’s decision to continue trading other coins that the Securities and Exchange Commission (SEC) considers securities, despite Coinbase’s assertion that they are not securities according to their own court documents.
Bill Morgan addressed the apparent inconsistency regarding the resumption of XRP trading on the secondary market. Morgan criticized the decision of Coinbase to not resume XRP trading, while the exchange maintains that the Howey test does not apply to secondary market token trading.
He pointed out that the SEC’s lawsuit against Coinbase specifically mentions securities, yet the trading of other tokens like ADA and Solana continues uninterrupted.
Morgan dismissed any arguments regarding duties to shareholders as baseless, highlighting that if such concerns were legitimate, the inconsistency in trading practices would not persist.
Bill Morgan stated: It is totally inconsistent and hypocritical and @iampaulgrewal has never explained it.
The lawyer noted that either there should be temporary pauses in the trading of other digital assets alleged to be securities or Coinbase should resume XRP trading on the secondary market.
This is not the first time Bill Morgan has blasted Coinbase on Twitter. In May, Bill Morgan called out Coinbase in the same way as he thought that the Coinbase CLO did not explain why the crypto exchange halted only XRP trading, despite the SEC’s allegation that other listed digital assets are securities.
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